The medical technology company, which is focusing on developing new types of contact lenses, has raised £2.5million since January 2007.

Discovery Investment Fund, ChimaeraBio, the Scottish Co-investment Fund and the company founders, all participated in the latest funding round.

The money will be used to support the Bellshill firm's polyethylene glycol (PEG) materials technology.

Wade Tipton, chief executive, said: "We are delighted in this continued show of support from our key investors.

"We are already in discussion with several potential commercial partners and the new funding will enable us to prove to their satisfaction our belief that PEGs have the potential to be the standard contact lens material of the future."